Economies-of-scale benefit is the ability of a firm to use one set of inputs to produce a wider range of products and services.

Question

Quizplus · Accepted Answer

Economies-of-scale benefit refers to the ability of a firm to produce goods or services at a lower cost per unit as a result of producing larger quantities. It does not relate to the firm's ability to produce a wider range of products and services.

Economies-Of-Scale Benefit Is the Ability of a Firm to Use